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TFBP Limited

Financial Statements for the Year Ended 31 May 2023






TFBP Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J R Beere
A J Wagg





REGISTERED OFFICE: Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA





REGISTERED NUMBER: 10761828 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
TFBP Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TFBP Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of TFBP Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TFBP Limited and state those matters that we have agreed to state to the Board of Directors of TFBP Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TFBP Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that TFBP Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of TFBP Limited. You consider that TFBP Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TFBP Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


21 February 2024

TFBP Limited (Registered number: 10761828)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 689,397 702,553

CURRENT ASSETS
Debtors 4 2,725 3,763
Cash at bank and in hand 12,747 43,257
15,472 47,020
CREDITORS
Amounts falling due within one year 5 65,950 72,922
NET CURRENT LIABILITIES (50,478 ) (25,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

638,919

676,651

CREDITORS
Amounts falling due after more than
one year

6

606,750

633,177
NET ASSETS 32,169 43,474

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 31,969 43,274
32,169 43,474

TFBP Limited (Registered number: 10761828)

Balance Sheet - continued
31 May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





J R Beere - Director


TFBP Limited (Registered number: 10761828)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TFBP Limited (Registered number: 10761828)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

3. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2022 706,325 28,243 734,568
Additions - 1,163 1,163
At 31 May 2023 706,325 29,406 735,731
DEPRECIATION
At 1 June 2022 20,252 11,763 32,015
Charge for year 10,126 4,193 14,319
At 31 May 2023 30,378 15,956 46,334
NET BOOK VALUE
At 31 May 2023 675,947 13,450 689,397
At 31 May 2022 686,073 16,480 702,553

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 696 600
Other debtors & prepayments 2,029 3,163
2,725 3,763

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,335 5,691
Taxes & social security costs 5,018 9,215
Other creditors & accruals 54,597 58,016
65,950 72,922

TFBP Limited (Registered number: 10761828)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 606,750 633,177

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 233,991 261,434